Finance | - Part 91

Mining’s Exploration Surge Helps Spur $500 Million Driller Deal

LAGOS (Capital Markets in Africa) – Rising exploration is driving growth opportunities for mining services providers, according to Ausdrill Ltd., which has agreed to acquire a smaller rival to create Australia’s second-largest company in the sector. Ausdrill’s A$697 ($500 million) cash and share acquisition, including debt, of Barminco Holdings Pty will form a company with a client roster that includes BHP Billiton Ltd. and Newmont Mining Corp., Ausdrill said Wednesday in a statement. The mining sector is revving up a hunt…

Crypto’s Millennial Mining Tycoon Is Said to Plan $3 Billion IPO

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LAGOS (Capital Markets in Africa) – Bitmain Technologies Ltd., the world’s biggest producer of cryptocurrency mining chips, is planning a Hong Kong initial public offering that could raise as much as $3 billion, people with knowledge of the matter said. The Beijing-based company, whose 32-year-old co-founder Jihan Wu is one of the most powerful players in crypto, plans to file a listing application with the Hong Kong stock exchange as early as September, according to the people….

South Africa Close to Tax Deal to Lure VW, Ford, BMW Investment

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s government is close to agreeing to new tax breaks for international carmakers including Toyota Motor Corp., Ford Motor Co. and BMW AG in return for initiatives to boost jobs and exports, according to Trade and Industry Minister Rob Davies. A deal on a 15-year incentive program to replace one that expires in 2020 should be reached this year, Davies said in an interview Tuesday. While work is still to…

ARM Kenya in Talks to Hire New CEO as Management Reorganized

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NAIROBI (Capital Markets in Africa) – ARM Cement Ltd., a debt-laden Kenyan manufacturer of the building material, said it’s identified a potential new chief executive officer as it named a former director of rival Lafarge Africa Plc among new board members. The management shake-up comes 10 months after ARM began a search for a strategic investor. The company is struggling under the weight of debt that ballooned to 14.4 billion Kenya shillings ($142.9 million) last…

Investment in Malawi: Emerging Opportunities

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LAGOS (Capital Markets in Africa) –What investment opportunities are there in a land that extends to 118 484 sq. km in size with a population size of 17.2 million? The answer is that there are many investment opportunities! And the economic environment has so far been supportive of investments in Malawi. In 2017 for example, Real GDP growth came at 5.1% and is projected to slow down to 4.0% in 2018 due to challenges in…

Achieving Growth in Africa: The Challenges and How Trade and Trade Finance Can Help

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LAGOS (Capital Markets in Africa) – It has been a difficult time economically for much of Africa over the last few years resulting in, with some exceptions, economic growth that has not lived up to hope or expectation. The reasons for this are many and diverse, differing from country to country and this article will be looking at some of the main challenges facing the continent and attempting to show how trade and trade finance…

Mauritius As an Investment Hub For African

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LAGOS (Capital Markets in Africa) – What role can Mauritius play as an investment hub for Africa, at a time where the continent continues to face financing gaps when it comes to the future development of its infrastructure? Energy projects are currently consuming around 60% of African infrastructure investment, and there continues to be significant demand for public and private investment to address the water supply, sanitation and ICT amongst others. It has been estimated…

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